Parliament not HMRC power to negotiate unpaid Corporation Tax over £1m

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Parliament not HMRC power to negotiate unpaid Corporation Tax over £1m

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Recent media coverage exposed multinational companies operating in the UK without paying the legally required taxation.

In some cases HMRC has been accused of 'negotiating' a special discount for the company on what is owed, resulting in tens of millions of pounds loss to the UK economy and corporations avoiding paying their real debts.

I propose that the power to 'negotiate down' any unpaid corporate taxation bills exceeding £1 million be removed from HMRC. Instead a cross-bench parliamentary committee be made responsible for examining in public each case, and making binding recommendations to the Chancellor for implementation through HMRC.

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